Charlie Kennedy of the Irvine office of Sperry Van Ness, who represented the seller, says the building was constructed in 1978 and was in excellent condition, having undergone a complete refurbishing in 2002.
The Villa Grande Apartments, a one-building complex, are of wood frame and stucco construction and had been owned by the seller for about a year. The 25 units include five one-bedroom, one-bath units; 19 two-bedroom, two-bath apartments, and one three- bedroom, two bath unit. Rents range from $800 to $1,250 at the property, which was 100% occupied at the time of the sale. Kennedy notes that the complex is near the 405, 605, 710, 91 and 5 freeways and within walking distance of shopping and dining. Other amenities include covered parking, a swimming pool, a spa, dishwashers, and air conditioning. Liliana Saremi, of TGR Realty, represented the buyers.
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